New Delhi: Oriental Bank of Commerce (OBC) on Wednesday cut home loan rate by 0.5 per cent to 10.25 per cent.

The state-owned lender has reduced the interest rates on home loans of above Rs. 75 lakh by 0.5 per cent from 10.75 per cent to 10.25 per cent, it said in a statement.

"Now, all home loans irrespective of loan amount are available at uniform rate of 10.25 per cent at bank's base rate," it said.

Last week, State Bank of India, the country's largest lender, slashed home loan rate by up to 0.15 per cent and removed the slab for advances.

Home loan of any amount is now available at 10.15 per cent while for women borrower the rate of interest would be 10.10 per cent.

The base rate or the minimum lending rate below which the bank cannot lend is 10 per cent.

SBI had also removed two home loan slabs - under Rs. 75 lakh and above Rs. 75 lakh.

So as per the revised statement, the concessional 0.05 per cent interest rate has been maintained for women borrowers provided she is the sole applicant or the first of the co-applicants and also the sole or the first of the co-owners of the property.

The city's high-end residential segment has shown a smart 39% rise in capital value in the 2011-14 period — the highest any market has shown in the country, a report by real estate advisory company Cushman & Wakefield has said

The residents of old and dilapidated buildings have reason to cheer. Chief minister Prithviraj Chavan has given his nod to the long-pending demand for 2.5 FSI on Tuesday, ensuring faster redevelopment of these buildings, constructed by City and Industrial Development Corporation (Cidco)

The state government will provide Rs 2,000 compensation a month to slum dwellers, who will be evicted to make way for houses to be constructed under Rajiv Awas Yojana (RAY). These houses will be handed over to them

In some good news for Chandrababu Naidu, the Andhra Pradesh government has been told by its revenue department that more than 45,000 acres of degraded forest land, largely encroached by locals and small industrial units, are available in the surroundings of Vijayawada for building the new capital

The decision of the Odisha Industrial Infrastructure Development Corporation (Idco) to cancel the lease deeds of the land lying idle in industrial estates has drawn flak from the industry bodies the state